Product Recall
Product recalls present real threats to retailers and manufacturers: loss of sales, customer confidence, hard-won retail shelf space, and supply contracts. Skillful handling of a recall can minimize damage demonstrating reliability and professionalism to wholesale and retail connections.
Contaminated Products insurance
Designed for manufacturers, retailers & distributors of topical or ingestible products: food, drinks, cosmetics, pharmaceuticals & tobacco.
Covers losses arising from:
Policy covers
Who is it for?
- Accidental or unintentional contamination, impairment or mislabeling resulting from any stage from production to sale that could result in harm to users within 120 days of contact
- Actual, alleged or threatened, intentional tampering with the product to make it harmful
- Threats to tamper with a product in order to extort money
- Recall costs
- Business interruption (lost gross profit)
- Rehabilitation costs
- Consultancy costs
- Adverse publicity (optional)
- Food
- Drink
- Tobacco
- Cosmetics and
- Pharmaceutical companies
Defective Products insurance
Designed for manufacturers, retailers and distributors of finished consumer products
Covers losses arising from:
Who is it for?
Policy covers
- Accidental omission, introduction or substitution of components or substances
- Errors occurring in any stage from design, through to labelling and storage
- Intentional damage that could cause the product the product to be harmful
- Manufacturers of a wide range of finished goods.
The policy covers costs to inspect, withdraw, or destroy the product incurred within 12 months after the recall, including:
- Communication (radio, TV, Internet, ads…)
- Shipping from purchaser, distributor or user
- Overtime and additional personnel costs
- Storage costs and cost of disposal
- Redistribution
- Independent Security, PR or Recall Consultants